This document describes how the Rewards program works and is an agreement between you and Trovy Lending Co. (“Trovy”). You agree that use of your Trovy account or any feature of this rewards program indicates your acceptance of the terms of this Rewards Program Agreement. In this document, the following words have special meanings:
- “Agreement” means this document
- “Program” means this Trovy Card Rewards program
- “Account” means your Trovy account that is linked to this Program
- “Card” means any credit card or account number used to access your account
- “we,” “us,” “our,” and “Trovy” mean Trovy Lending Co.
- “you” and “your” mean the person responsible for the account and for complying with this Agreement
- “Authorized User” means anyone you permit to use the account
- “Cash Back rewards” are the rewards you earn under the program. Cash Back rewards are tracked as points and each $1 in Cash Back rewards earned is equal to 100 points. You may simply see “Cash Back” in marketing materials when referring to the rewards you earn. You may also see, “points” or “ Rewards points” when referring to the points you can use.
- “purchases” is defined in the section of this agreement titled How you can earn points
- “misuse” means the improper use of the Program, Card, or Account in a manner inconsistent with the terms and conditions you’ve agreed to, including this Rewards Program Agreement, the cardmember agreement, or the terms and conditions of a third-party merchant or service provider program, through which points may be used or transferred under this program.
Examples of misuse include, but are not limited to:
- your failure to make the minimum payment on your Account when due;
- buying or selling points;
- selling, or participating in the sale or exchange of, gift cards, travel or other items of value obtained through use of points;
- repeatedly opening or otherwise maintaining credit card accounts for the purpose of generating rewards;
- manufacturing spend for the purpose of generating rewards;
- moving or transferring points to an ineligible third party or account.
We may make changes to the Program and the terms of this agreement at any time. For some changes, we’ll give you 30 days’ notice (or longer if required by law) as described in the Notice of changes section below.
We may temporarily prohibit you from earning points, using points you’ve already earned, or using any features of the program.
We may supplement this agreement with additional terms, conditions, disclosures, and agreements that will be considered part of this agreement.
We may refer to this agreement as the “Rewards Program Agreement” or “Rewards Program Rules and Regulations” or “Rewards Terms and Conditions: in communications about the program and in supplemental terms, conditions, disclosures, and agreements. This version of the agreement takes the place of any earlier versions.
Notice of changes
We’ll give you 30 days’ notice (or longer if required by law) of the following types of changes to the program or this agreement:
- if we add or increase fees applicable to the program
- if we decrease the rate at which you earn points
- if we limit the number of points you can earn
- if we limit or reduce the ways you can use points
- if we reduce the value of points
- if we cancel the Program
We’ll send this notice to you in writing, which, at our option, may be delivered to you in the mail or electronically by email or through our online services, such as trovy.com.
We’ll give you notice of other changes to the Program or agreement by posting an updated copy of this agreement when you log in to our website, trovy.com.
We won’t provide prior notice when we change what you can get with your points within particular redemption options (for example, we won’t provide notice if the selection or availability of gift cards change, or if a specific product or experience is out of stock through the Program). You understand and agree that we can make these changes at any time. Future availability of any specific items isn’t guaranteed.
You can see what you currently can get with your points when you log in to our website, trovy.com.
How you can earn points
You’ll earn points on purchases of products and services, minus returns or refunds (collectively, the “purchases”), made with a Card by you or an Authorized User of the Account. Buying products and services with your Card, in most cases, will count as a purchase; however, the following types of transactions won’t count and won’t earn points:
- balance transfers
- cash advances or cash-like transactions
- travelers checks, foreign currency, money orders or wire transfers
- lottery tickets, casino gaming chips, race track wagers or similar betting transactions
- any checks that access your account
- interest
- unauthorized or fraudulent charges
- fees of any kind
You’ll earn:
- 1.5% Cash Back rewards for each $1 spent. This equates to $0.015 in Cash Back rewards, which is equal to 1.5 points, for each $1 spent.
- For example, if you spend $100, you will earn $1.50 in Cash Back rewards, which is equal to 150 points.
- 3% Cash Back rewards total for each $1 spent on purchases in your highest spend category each billing cycle (1.5% additional Cash Back rewards on top of the 1.5% Cash Back rewards earned on each purchase). This equates to $0.03 in total Cash Back rewards, which is equal to 3 points, for each $1 spent. You may see “3X” in marketing materials to refer to the 3% Cash Back rewards total you earn for each $1 spent in these categories.
- For example, if you spend $100 on purchases in your highest spend category, you will earn $3 in Cash Back rewards ($1.50 in Cash Back rewards for the base 1.5% earned on all purchases, plus an additional $1.50 in Cash Back rewards because your purchases were in these categories). $3 in Cash Back rewards is equal to 300 points.
Rewards Categories:
Merchants who accept Visa/Mastercard credit cards are assigned a merchant category code (“MCC”), which is determined by the merchant or its processor in accordance with Visa/Mastercard procedures based on the kinds of products and services they primarily sell. We group similar merchant codes into categories for purposes of making rewards offers to you. Please note:
- We make every effort to include all relevant merchant codes in our rewards categories. However, even though a merchant or some of the items that it sells may appear to fit within a rewards category, the merchant may not have a merchant code in that category. When this occurs, purchases with that merchant won’t qualify for rewards offers on purchases in that category.
- We don’t control the assignment of these codes and are not responsible for the codes used by merchants. When you use your Card to make a purchase, we’re provided an MCC for that purchase. We group similar merchant codes into categories for purposes of identifying your spend category. Sometimes you may expect a purchase to fit within a rewards category as recognized by Trovy, but if the code assigned to the merchant wasn’t grouped into that category, your purchase amount will not be included in the spend for that billing cycle.
Highest Spend Categories:
Each billing cycle we will determine your highest spend for Card purchases posted to your Account in the following categories:
- Dining & Restaurants
- Travel, Transit & Transportation
- Groceries
- Live Entertainment
- Home Improvement, Appliance Retailers, & Hardware Stores
- Utilities, Subscriptions, & Streaming Services.
Each purchase on your Card is assigned to a category based on the MCC. We will calculate your total amount spent in each category, less any returns posted during the billing cycle. Trovy shall have the sole right to determine the highest spend category each billing cycle and their decision will be final.
Category Definitions:
- Dining & Restaurants: Includes purchases at eating establishments such as restaurants, bars, breweries, and fast food restaurants. May exclude transactions made through online food ordering or delivery platforms.
- Travel, Transit, & Transportation: Includes but is not limited to airline, hotel, cruise line, car rentals, ferries, commuter railways, subways, taxis/limousines, bridge and road tolls, parking, buses, RV rentals, EV charging, and gasoline purchases.
- Groceries: Includes purchases at supermarkets, grocery stores, meat and seafood markets, dairy stores, and bakeries. Also includes discount superstores and warehouse clubs.
- Live Entertainment: Includes ticket purchases for concerts, sporting events, theatrical productions, amusement parks, and orchestras. Also includes golf courses, movie theaters, and museums.
- Home Improvement, Appliance Retailers, & Hardware Stores: Includes purchases at home improvement warehouses, furniture stores, hardware stores, and nursery suppliers. Includes contractors and specialty trader services.
- Utilities, Subscriptions, & Streaming Services: Includes payment for utilities such as gas, heating, water, cable and pay TV, and phone services, based on MCC.
Points are earned at the close of each monthly billing cycle. If you have more returns or refunds than points earned, points will be deducted from your total balance, which may result in a negative points balance.
You’ll see points you’ve earned in your Online Account at trovy.com. Points earned in a monthly billing cycle are generally available to be used at the beginning of the next billing cycle.
How you can use your points
You can use your points to redeem for any available reward options. Redemption values for reward options vary.
- When you use points to redeem for cash or a billing statement credit, each point is worth $.01 (one cent), which means that 100 points equals $1 in redemption value.
You can use points to redeem for cash through a statement credit to your Account or an electronic deposit into an eligible U.S. checking or savings account. Once points have been used, the transaction is considered final.
How you could be prohibited from earning or using points
We may temporarily prohibit you from earning or using points if we suspect misuse or fraudulent activity. You can begin earning and using points again in the next billing cycle after the Account is current or misuse is no longer suspected.
How you could lose your points
Your points don’t expire as long as your Account is open; however, you’ll immediately lose all your points if:
- you fail to comply with other agreements you have with Trovy;
- we believe you may be unwilling or unable to pay your debts on time (e.g., bankruptcy);
- we believe that you’ve engaged in fraudulent activity.
If your Account is closed for any other reason, you’ll have at least 30 days from the closure date to use your points. If we’re notified of your death, your points will be automatically redeemed for cash as a statement credit.
- Property: Unless required by law, points aren’t your property and have no value until redeemed. They cannot be transferred by inheritance, bankruptcy, or divorce.
- Taxes: Your participation may result in miscellaneous income. You are responsible for any tax liability; we may file Form 1099-MISC or Form 1042-S with the IRS.
- Assignments: We may assign our rights and obligations under this agreement to a third party.
- Governing Law: This agreement is governed by federal law and the law of Delaware.
Communications
We may send communications to any mailing or email address in our records or through trovy.com. Let us know right away about any changes to your contact information.
Telephone monitoring
You agree that Trovy and its third-party service providers may listen to and record telephone calls as part of providing Program services.
